A Multi-Country Closed-Economy MU Model

Joseph Plasmans, Jacob Engwerda, Bas van Aarle, Giovanni Di Bartolomeo () and Tomasz Michalak
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Joseph Plasmans: University of Antwerp, Belgium and Tilburg University
Tomasz Michalak: University of Antwerp

A chapter in Dynamic Modeling of Monetary and Fiscal Cooperation Among Nations, 2006, pp 197-228 from Springer

Abstract: In Chapter 4 we analyzed monetary and fiscal policy interactions in a twocountry monetary union (MU). While this setting yields many important insights, it seems also interesting to consider an MU with a larger number of participants. This chapter, therefore, seeks to generalize the previous analysis by introducing a multi-country MU model. Moreover, we consider a more general shock structure which is based on price levels instead of (relative price) competitiveness. Furthermore more general inflation dynamics are introduced, i.e. the effects of foreign inflation rates, as suggested by the recent open economies’ literature.1

Keywords: Monetary Policy; Bargaining Power; Coalition Formation; Monetary Union; Coalition Structure (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:spr:dymchp:978-0-387-27931-2_6

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DOI: 10.1007/0-387-27931-8_6

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